- ACV announced upbeat Q3 2022 results with revenue surging 11x YoY to VND4.2tn (USD171mn) and NPAT-MI of VND2.4tn (USD98mn) vs a net loss of VND702bn (USD29mn) in Q3 2021. We believe the upbeat profit was mainly thanks to the recovery of passenger numbers as there were no COVID-19 disruptions in Q3 2022. 

- Excluding contributions from State-invested aviation assets (such as runways), ACV’s revenue increased 913% YoY to VND3.6tn (USD147mn) while its NPAT-MI was VND2.1tn (USD86mn) in Q3 2022 vs a net loss of VND767bn (USD31mn) in Q3 2021. 

- In 9M 2022, ACV’s revenue increased 154% YoY to VND8.2tn (USD335mn) and its NPAT-MI soared to VND5.2tn (USD211mn) vs only VND163bn (USD6.7mn) in 9M 2021, which was mainly thanks to the recovery of the international and domestic aviation markets as COVID-19 disruptions subsided.

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